Summary
- It was reported that the trading volume of the XRP (XRP) spot exchange-traded fund (ETF) surpassed $26 million within 30 minutes of market open.
- This trading volume was said to be a faster pace compared with the early flows of other recently listed altcoin ETFs.
- XRPC's first-day trading volume is expected to be used as an indicator of investor demand for altcoin ETFs.
The XRP (XRP) spot exchange-traded fund (ETF), which began trading in the United States, has shown strong demand from the start.
On the 13th (local time), Bloomberg ETF analyst Eric Balchunas said on X (formerly Twitter) that the Canary XRP spot ETF 'XRPC' exceeded $26 million in trading volume within 30 minutes of market open.
This trading volume is a rapid pace even compared with the early flows of other recently listed altcoin ETFs, and Balchunas said, "It is likely to surpass the first-day trading volume of BSOL, the Solana (SOL) ETF, which was $57 million."
The listing of the XRP ETF has attracted investor interest amid a trend in the virtual asset (cryptocurrency) market of growing expectations for regulatory clarity and institutional adoption. Depending on the level of trading volume XRPC records on its first day, it is expected to serve as an indicator of demand for altcoin ETFs in the market.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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